Eliem Therapeutics (NASDAQ:ELYM) Stock Price Down 2.5% – What’s Next?

Shares of Eliem Therapeutics, Inc. (NASDAQ:ELYM) were down 2.5% during trading on Wednesday . The company traded as low as $9.1201 and last traded at $9.26. Approximately 2,689,696 shares changed hands during mid-day trading, an increase of 453% from the average daily volume of 486,688 shares. The stock had previously closed at $9.50.

Eliem Therapeutics Price Performance

The business has a 50 day moving average of $7.45 and a 200 day moving average of $4.75. The company has a market cap of $275.50 million, a PE ratio of -17.47 and a beta of -0.39.

About Eliem Therapeutics

Eliem Therapeutics, Inc is a clinical‐stage biotechnology company focused on the development of novel therapeutics for the treatment of neurological and neuropsychiatric disorders. The company’s scientific approach is centered on proprietary peptide and small‐molecule drug candidates designed to modulate central nervous system pathways. By leveraging targeted delivery and receptor‐specific activity, Eliem seeks to address unmet medical needs in areas such as pain management, spasticity and other debilitating sequelae of spinal cord injury.

The company’s most advanced program, ELI-200, is being investigated as a potential treatment for spasticity and neuropathic pain associated with spinal cord injury.